Dec 15 2015
The board of directors of American Realty Capital New York City REIT II Inc., a publicly registered non-traded real estate investment trust, terminated the company’s initial public offering, effective immediately, according to a filing with the Securities and Exchange Commission. In connection with the termination, the board intends to dissolve and liquidate the company.
The company indicated that it had not yet accepted subscriptions for the minimum amount of offering proceeds, and cited the “current regulatory and market conditions affecting the direct investment industry, particularly the unclear impact of the proposed Department of Labor fiduciary standard and the upcoming valuation measures prescribed by FINRA’s 15-02 directive.”
The well-attended Blue Vault session at the recent National Planning Holdings National Conference was very well received. The value of their products was evidenced by the volume of questions from the attendees. Stacy Chitty, Managing Partner, did an excellent job of explaining the history, strategy and value of Blue Vault data.